JPMorgan Chase & Co. is joining Gulf lenders to help arrange about $7 billion of debt financing for a Qatari firm’s projects in Syria, marking one of the biggest foreign commitments to the country’s reconstruction since dictator Bashar al-Assad was ousted by rebel forces.
The US lender is working alongside Qatar National Bank and Abu Dhabi Commercial Bank PJSC on the loan for projects being delivered by a consortium that includes Power International Holding, one of Doha’s largest conglomerates, people familiar with the matter said, asking not to be identified because the information is private.